​SAN ANTONIO – The U.S. Treasury Department has designated 23 census tracts in the San Antonio area as Opportunity Zones—all but one of the 24 tracts in the region requested by the governor’s office in March 2018.

The approved Opportunity Zones include tracts around Morgan's Wonderland, the AT&T Center, Brooks, Port San Antonio and most of Southwest and Southeast San Antonio, according to a recently published list by the Treasury Department.

Now that the Treasury Department has approved Opportunity Zones in several states, individuals may create Opportunity Funds.

These funds can be used to invest in Opportunity Zones to take advantage of certain tax incentives.

Opportunity Zones are a community development tool meant to encourage long-term investment in low-income urban and rural communities by allowing developers and investors to reinvest capital gains into Opportunity Funds.